Truist analyst Michael Ciarmoli raised the firm’s price target on AAR Corp. (AIR) to $81 from $68 and keeps a Buy rating on the shares. The company’s Q2 results were mixed as revenues fell short of consensus amid growth deceleration in commercial business on an annual and sequential basis, the analyst tells investors in a research note. Despite the miss and the weaker commercial growth however, the acquisition of Triumph Group’s (TGI) Product Support business is a major positive that should accelerate margin expansion to the upper end of AAR’s targeted range, the firm added.
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